Medical waste containers are used to contain organs, tissues, body parts, non-viable fetuses, placentas, blood, bodily fluids, and other hazardous wastes generated from hospitals, pharmaceutical research organizations, and pharmaceutical companies.
New York, Dec. 29, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Medical Waste Containers Market - Growth, Trends, and Forecasts (2020 - 2025)" - https://www.reportlinker.com/p06000983/?utm_source=GNW
With an increase in research and development in the pharmaceutical field and the number of operations and surgeries globally, the waste generated has also increased.
As medical waste containers safely contain hazardous medical waste, these containers are used to transport the waste to the disposal site. Safely containing this waste has resulted in the prevention of illnesses from exposure to the waste.
Moreover, governments have also implemented strict safety and environmental conservation policies regarding the containment and disposal of waste. These factors have helped the growth of the market. However, the quality of the container might still pose a threat as degraded quality products may break during the transport, resulting in the exposure of humans and animals to hazardous waste. Hence this factor has, hence, been restraining the growth of the market.
Key Market Trends
Chemotherapy Containers are Expected to Dominate the Segment Growth During the Forecast Period
The prevalence of cancer has been on the rise in recent decades. As a result, cancer is one of the leading causes of death in the world. According to the World Health Organization, the global cancer burden of cancer is estimated to have risen to 18.1 million new cases and 9.6 million deaths in 2018. Moreover, a report 2018 by the University of Oxford (Global Change Data Lab) states that since 1990, the number of deaths due to cancer has increased by more than 66%. As the prevalence of cancer increases, the demand for chemotherapy will also increase. This will also increase the demand for safe disposal of various equipment used during the process. Hence chemotherapy containers’ demand is expected to rise in the future, which will help the market growth.
North America is Expected to Dominate the Medical Waste Containers Market
North America has contains the United States (US), Canada, and Mexico. The US and Canada are one of the most developed countries in the world. These countries spend a large sum in healthcare, of which a large portion is dedicated to research, development, and production in the pharmaceutical industry.
Moreover, these countries also have industry-friendly policies, which has attracted many global players to the region. These pharmaceutical players engage in research and development and production on large scales, which leads to the large production of hazardous medical waste. As a result, the demand for the medical waste container is more in these countries, which has helped in the growth of the market in this region
The majority of the Medical Waste Containers are being manufactured by the global key players. Market leaders with more funds for research and a better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing the emergence of some small players due to the rise of awareness. This has also helped the market grow.
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